Own Vodafone Idea, Sky Gold or Magadh Sugar shares? Here’s what expert suggests

Investors holding counters such as Vodafone Idea Ltd, Sky Gold And Diamonds Ltd, and Magadh Sugar & Energy Ltd can find strategies by Ruchit Jain, Vice President and Head of Equity Technical Research, Wealth Management at MOFSL, who addressed these specific stock queries on Business Today Television (BTTV) 'Daily Calls' show.

Vodafone Idea

Responding to a viewer, Saktani, who sought near-term or long-term levels for Vodafone Idea, Jain noted the counter's recent volume-backed support. He noted that the telecom stock has witnessed buying interest in the past few sessions.

"We can expect levels around Rs 13.75 to Rs 14 in the near term; that is where the next resistance lies," Jain told BTTV. 

Sky Gold and Diamonds

Taking an investment query from a WhatsApp viewer, Prasana from Visakhapatnam, Jain suggested shifting capital to more promising market pockets. The viewer had purchased 61 shares of Sky Gold at Rs 370 apiece and sought advice on whether to hold or sell the holdings.

Jain noted that current market sentiments are unlikely to allow the stock to chart a strong outperformance in the short term. Even in the event of a broader market rally, he believes investors can find better opportunities to generate higher returns in other sectors. “So here my advice would be to book profits, and if you are in profits, then stake some money off the table,” he said.

Magadh Sugar & Energy

Another viewer, Umesh, asked about Magadh Sugar, as he bought the stock at Rs 479. Jain noted that the stock has decisively breached its crucial 20-day and 50-day moving averages (DMA) amid persistent selling pressure over the last few days.

Jain emphasised that sugar is inherently a cyclical sector, much like fertilisers and metals. When the cycle turns favorable, these stocks can deliver exceptionally high returns in a short window, he said

However, he cautioned that the cycle is currently not in favor of the sugar pack. Jain advised investors to keep the stock on their watchlist but avoid fresh buys at current levels. For those already holding the counter, he recommended lightening positions and rotating funds into some other sectors.

Here's full video:

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(DISCLAIMER: The views/advice/suggestions expressed in the video are solely by market analysts & investment experts. Please consult your investment advisers before making any financial decisions.)